Kandi Technologies Group (NASDAQ: KNDI), a Chinese EV-maker and car-sharing operator, has announced a new sale that will not only significantly expand its volume, but also explore the potential of online EV sales. Kandi Electric Vehicles Group, a joint venture with automaker Geely, has signed a sales contract with Zhejiang Shi Kong Electric Vehicle for… Read more »
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Proterra raises $55 million in strategic financing
Electric bus builder Proterra has announced the completion of strategic financing intended to fund the company’s business plan to achieve positive cash flow, as production scales up to meet growing demand. The new capital will be used to fully fund Proterra’s new Advanced Manufacturing facility in California. Proterra has closed a $30-million Series 4 equity round… Read more »
Guangzhou Automobile Group to invest $322 million in factory for new energy vehicles
Guangzhou Automobile Group plans to invest 2 billion yuan ($322 million) in a factory in China that will exclusively build new energy vehicles (plug-ins, hybrids and FCVs). The new plant is scheduled to go online in 2018, and will have an annual production capacity of 100,000 vehicles. The location of the new factory has not… Read more »
Bolloré’s electric Bluecar, with novel solid-state batteries, coming to London
Electric car-sharing service Autolib has become a hit in Paris and two other French cities since its 2011 launch, and now boasts a fleet of over 3,500 EVs. Corporate parent the Bolloré Group also has a fleet of electric Bluebuses operating on Parisian streets, and has been working on bringing electric car sharing to Indianapolis… Read more »
Volta builds business on free charging, secures $7.5 million in financing
Charging network operator Volta Industries has closed a $4.5 million Series A capital round and a $3 million project financing facility, giving it the means to expand its current network of 100 public charging stations in California, Arizona and Hawaii. Volta has introduced what it calls a “community engagement model,” in which socially responsible brands… Read more »
Skeleton Technologies raises €9.8 million in Series B, aims to make ultracapacitors the future for EVs
Estonian/German ultracapacitor maker Skeleton Technologies has raised Series B financing of €9.8 million ($10.7 million) from a consortium that includes electrical equipment manufacturer Harju Elekter Group and Baltic investment firm UP Invest. The company plans to use the funds to ramp up production of its graphene-based ultracapacitors. Customers include hybrid truck manufacturers, Tier 1 suppliers,… Read more »
New report: US plug-in sales could crack a million a year by 2024
Each year, Navigant Research releases a report that forecasts future trends in the plug-in vehicle (PEV) market. The latest edition predicts that annual North American PEV sales should break the one-million mark around 2024. The new report, Electric Vehicle Geographic Forecasts, notes that North America is the world’s strongest market for light-duty PEVs, with more… Read more »
Motiv Power Systems receives $8 million grant, opens new manufacturing facility
Motiv Power Systems scored an additional $8.1 million grant from the California Energy Commission (CEC) to continue commercializing its electric powertrains, bringing the total amount of the company’s CEC funding to $12.3 million. The company has also opened a new manufacturing facility in Hayward, California, which will employ 20 workers and have an annual production… Read more »
Smith partners with FDG to produce medium-duty electric trucks
Smith Electric Vehicles, a builder of medium-duty commercial EVs that was profiled in the January/February 2013 issue of Charged, plans to form a joint venture with strategic partner and investor FDG Electric Vehicles, an EV and battery manufacturer listed on the Hong Kong Stock Exchange. The new JV will offer a combined portfolio of EVs… Read more »
Developer of gallium nitride power switching semiconductors raises $20 million
GaN Systems Inc., a developer of gallium nitride power switching semiconductors, has closed a $20-million Series C financing round. The company will use the new money to ramp up sales and marketing efforts and to continue expanding its manufacturing line. GaN Systems says its Island Technology results in devices that are smaller and more efficient… Read more »
